Apple-IBM alliance dents BlackBerry’s stock price

16

Jul

2014

BlackBerry Ltds shares took a hit on Wednesday after International Business Machines Corp said it planned to partner with Apple Inc to sell iPhones and iPads loaded with applications geared to business users. The Apple-IBM tie up, beginning this fall, is set to target the customer base that BlackBerry is attempting to woo as part of a turnaround under new Chief Executive Officer John Chen. It is not a crushing blow at this early stage, but ‎it is a negative for BlackBerry, said IDC analyst John Jackson. There can be little question that it is unwelcome, if not entirely unexpected news. BlackBerrys stock has been on a tear this year.